Wednesday, 1 April 2015
Last updated 19 min ago
Feb 1 2013 | 11:35am ET
Two top private equity players think the industry's brand may be a little worn and tattered—and ready for a replacement.
On separate conference calls, Blackstone Group CEO Stephen Schwarzman and President Hamilton James brought up the issues surrounding the name, "private equity." The brand took a beating during the financial crisis, but especially during last year's presidential campaign, which featured former p.e. executive Mitt Romney as the Republican challenger to President Barack Obama.
James said it was critical for the industry "to have a pristine reputation" in the current regulatory environment. "We need to be in an industry that's widely trusted."
James, half-seriously according to The New York Times, floated "clarity equity" as a possible name.
Schwarzman suggested that marketing was the key reason private equity needs to shed the bad reputation, and pointed to activist investors—formerly known, alongside private equity firms, as corporate raiders.
"We could actually learn something from these guys in terms of renaming themselves," Schwarzman said. "Private equity apparently doesn't have as attractive a marketing name as activists. Just the name change makes these guys better."
If their cohorts take up the rebranding challenge, it won't be the first time p.e. has undergone a marketing makeover: The once more-common term "leveraged buyout" fell by the wayside after the 1980s, when it became a buzzword for corporate greed and malfeasance.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…